October 2020 – Page 3

Eastern Union Launches Small Loans Division

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Eastern Union launched a new Small Loans Division. The new national division will focus primarily on multifamily deals valued at less than $1.5 million, with a minimum loan size of $150,000. The division will also arrange financing for portfolios of single-family rental or smaller multifamily properties whose combined value can reach tens of millions of dollars. Transactions handled under the Small Loans Division will include office, retail, health care, hospitality, industrial and self-storage. Heading up the new division is Sarah Steinhardt, who served as a processor and underwriter with Eastern Union since September 2019. Ben Schwartz will serve as lead broker for the new unit.

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Using a new technology solution from ServiceLink, borrowers can complete home inspections from the comfort and safety oftheir homes. The new mobile app, EXOS Inspect, uses a patent-pending technology featuring the latest artificial intelligence and an intuitive user interface that allows homeowners to complete secure video inspections for critical aspects of the lending and servicing process. The app is designed to guide homeowners through a step-by-step process, using any compatible smartphone or tablet, to complete a video inspection of a room and highlight home improvements in less than a minute. Geo-fencing, time-stamping andAI technology ensure data accuracy. A privacy feature identifies and screens out specific visuals, such as people, most family photographs and many religious objects. EXOS Inspect can be used as a standalone app or incorporated into a lender’sexisting digital consumer experience. In addition to releasing EXOS Inspect, ServiceLink recently upgraded the EXOS Close solution, which now supports virtual closing options in all 50 states and the District of Columbia for refinance and home equity loans.

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Watermark Residential has acquired 20.25 acres of land in the Castle Pines suburb of Denver for the development of The Summit Townhomes & Villas. The luxury-leased residential community will feature one- to four-bedroom attached single-family homes and townhomes. The development is expected to be completed by December 2022. The development, located along Lagae Road south of Castle Pines Parkway, will consist of 214 homes averaging 1,410 square feet. All units will feature premium interior finishes, including gourmet bar-kitchens with quartz countertops, stainless steel appliances, walk-in closets, garden tubs, full-size washers and dryers and designer light fixtures. The three- and four-bedroom townhomes will feature two-car attached garages and two-level patio decks. The paired villas will feature 10-foot ceilings, windows on three sides of the home and privately fenced patios. Community amenities will include a clubhouse, 24-hour state-of-the-art fitness center, swimming pool with cabanas and entertainment areas, pet-friendly bark park and doggie spa, local walking paths andaccess to an on-site management team. Watermark Residential is a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers. The Summit is the fourth luxury leased project for the company. The company also has projects under development in the suburbs of Denver, Phoenix and Nashville.

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Terrakan has launched an all-inclusive portal that brings real estate together in one place. Homeowners using the portal can speak with professionals, ask for advice, take advantage of concierge services, read detailed property development research, post listings, conduct group projects and access educational tools and resources. Terrakan also offers information-gathering, elementary analysis and forums that help property owners connect and understand the industry. Homeowners can input specific data about single-family listings and gain access to a variety of databases and quicklygenerate personalized feasibility reports.

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National mortgage lender and servicer Planet Home Lending, LLC, has partnered with The Farmlink Project, a nonprofit grassroots movement rescuing millions of pounds of fresh produce that would otherwise go to waste. The Farmlink Project was started in mid-April by college students and recent graduates who saw a need to connect farmers with surplus crops to food banks in need. Since its start, The Farmlink Project has delivered meals to more than 10 million people. Planet Home Lending’s $15,000 contribution will fund The Farmlink Response Team: Impact Tour, a five-week, cross-country journey to identify U.S. communities most in need, deliver food, tell stories that inspire donations and raise awareness of this critical problem. The Farmlink Response Team will stop in more than a dozen cities, delivering another 1.2 million pounds of food to more than 1 million U.S families. During the Impact Tour, the Farmlink Project will film a six-episode documentary series highlighting everyday community heroes fighting food insecurity, and the episodes will be available via its social media accounts.

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Sesa Properties LLP, a Brunswick, Ohio-based real estate investment company that buys houses for cash in Greater Cleveland has pledged to donate 200 meals to the Greater Cleveland Food Bank for every property they sell. “One of the major goals of Sesa Properties from the start has been to improve the communities of Greater Cleveland,” said Daniel Sarao, co-owner and managing partner. “Individuals in the local community are struggling and need some help.” “We would love to see other local Cleveland businesses join in. Even if it’s a small contribution. Anything will help,” said Vince Senauskas, co-owner of Sesa Properties, who is a Brunswick native and graduate of Cleveland State University.